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During the year, TRC Corporation has the following inventory transactions. Unit Date Transaction Number of Units Cost Total Cost Jan. 1 Beginning inventory 41 $
During the year, TRC Corporation has the following inventory transactions. Unit Date Transaction Number of Units Cost Total Cost Jan. 1 Beginning inventory 41 $ 33 $ 1,353 Apr. 7 Purchase 121 35 4,235 Jul.16 Purchase 191 38 7,258 Oct. 6 Purchase 101 39 3,939 454 $16,785 For the entire year, the company sells 410 units of inventory for $51 each. Cost of Goods Available for Sale Cost of # of units Cost per unit Goods Available Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Ending Inventory Cost Ending per unit Inventory Cost of Goods Sold Cost # of units per unit for Sale Cost of Goods Sold # of units Beginning Inventory 0 $ 0 $ 0 Purchases Apr. 7 Jul 16 Oct.6 Total 0 $ 0 0 0 $ 0 0 $ 0 0 $ 0 Sales revenue Gross profit
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